Energy: Day trend is indicating Downtrend in Crude oil & Natural gas - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil prices held back by weak Chinese data, hawkish Fed signals
* Factbox-Biden budget to target U.S. fossil fuel subsidies
* Gold prices pinned near 2023 lows as Fed fears persist
CHART OF THE DAY
SILVER:
SIVLER is witnessing the bounce back and manages to hold its 200 SMA; however, 62500 is an immediate and minor hurdle; above this, we can expect a short covering move towards critical resistance of 63000-63200 zone. While below 61600 it may head towards 61300-61000.
OUTLOOK:
* Bullion: Day trend is indicating to sideways to upside in Gold &Silver.
* Energy: Day trend is indicating Downtrend in Crude oil & Natural gas
* Base metals: Day trend is indicating Downtrend in all base metals.
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